Debt

Strikes, Walk Outs, & Other Old Answers To Today’s Higher Ed Problems

“‘In reality, many of us will never come close to paying off these debts.’”

---

What’s Student Loan Debt Preventing You From Doing? A Lot of Things

Nicole wrote yesterday that the reason she’s not a homeowner is because owning a home means building a life together with someone else, and she’s still waiting for the right person to come along. At the same time Nicole’s post went up, the Associated Press reported that student debt is one of the biggest factors that’s preventing young people from buying homes.

---

For Poorer

As the twentieth century draws to a close, I find myself the father of three boys under five.

The youngest is born under circumstances that seem positively routine compared with our first outing. When I return to hospital six hours after the birth, my wife is dressed and ready to go, the baby packed up like hand luggage.

---

The Punishment For Defaulting On Student Loans Is Harsher Than You Imagined

Various states — at least 22 of them, currently — have decided to put the fear of god in their young workers. Jobs With Justice explains:

In Alaska, California, Florida, Georgia, Hawaii, Illinois, Iowa, Kentucky, Louisiana, Massachusetts, Minnesota, Mississippi, Montana, New Jersey, North Dakota, Oklahoma, Tennessee, Texas, Virginia and Washington, nurses and health-care professionals can all be locked out from their job if they fall into default on their student loans.

In Georgia, Hawaii, Iowa, Louisiana, Massachusetts, Montana, New Jersey, North Dakota, Oklahoma and Tennessee, laws prevent K–12 teachers from working until they begin to repay their student loans. …

These state laws target a wide range of professions, including attorneys, physicians and therapists – even barbers make the list. But two professions show up over and over again: nurses and teachers.

Both professions serve a critical role in our communities and are often wildly underpaid. Are we really in a position to be punishing the people we need the most?

That is what you might call a rhetorical question. 

---

Let’s Throw Some Money at Our Problems: January 2015 Check-in

Pull up those balances!

---

Moving for a Relationship and Lessons From My Immigrant Parents

In August 2011 I’d just finished a year of wobbly misery in beautiful South Korea—teaching English—and by the end of it I had several thousand dollars and nothing else. I’d gone to Korea to travel and instead found myself in a swirling pool of depression, unable to connect with most of the excited ex-pats I spoke to, and unwilling to do the work to bridge the gap between myself and Koreans. This slow melt of melancholy meant that I rarely went out of my way to spend money on things, which allowed me to save more money than I knew what to do with. By the end I needed a break, so I took those thousands and went away to bum around in Southeast Asia.

---

How a Legal Secretary Who Paid Off $38,000 in Debt Does Money

Alison (not her real name) is a 27-year-old legal secretary who lives outside of Philadelphia.

---

Iceland Forgives Mortgage Debts in a Year of Jubilee

Basically, during the crisis, the amount of money that people owed on their adjustable mortgages jumped up significantly during a period of rapid inflation. So now the government of Iceland is forgiving the debt—or at least the percentage of the debt that was incurred as a result of the inflation.

---

Bouncing Back from Bankruptcy: Brittany Powell and the Debt Project

I’m interested in creating a platform to discuss how stigmatized debt is in our culture. It’s a publicly enforced system, but it’s typically privately experienced.

---